Hi All,Hi All
Well, I thought i would have a look at some of my stock predictions from last week, see how i went.
LRS
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Last week i mentioned LRS was OB on the hourly chart, could drop back to 20c support, well i was on the money, 11/12/23 it made its descent, ended up bottoming at 19.3, then has made a nice move to challenge 25c resistance, but indicators are looking a bit iffy, so a minor push back to 19/20c support could be on the cards.
Sentiment: Hold / partial sell
AKE
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Well, i did project a push back last week, again i was on the money, 11/12/23 it started its descent, but didnt go anywhere near 858 , got to 911 , then went on a nice sprint to 1075 resistance, but as you can see, indicators look bearish and heiken ashi has gone red, above average volume, so a push back to the green support zone highlighted could be on the cards.
Sentiment: Hold / partial sell
LTR
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I predicted LTR could drop to 130 support or lower last week, well it found support at 126, then went for a nice sprint to 145 resistance , but looks like the run is over with indicators OB, heiken ashi gone red, so a push back to 132 support or lower could be on the cards.
Sentiment: Hold / part sell
CXO
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Last week i mentioned if SP could break 27c resistance, it could go for a run, well it has done just that, now the questions is, can it reach 33c resistance or will it back test to 27c support or lower ?
Sentiment : HOLD
SYA
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I mentioned last week,i had doubts whether SP could break 6c resistance, again right bang on the 11/12/23 it failed and back tested to 5.42 support, before making another nice run to 6.9c resistance, where it appears a back test to 6c support or lower is most likely.
Sentiment: HOLD / Partial sell
As you can see lithium sector as a whole is on the rise, long term lows are in, common patterns across the board, higher highs / lows.....promising developments overall, but as mentioned last week, DOW is due for a decent correction, so hoping these movements are not a bull trap...
imo
Just a quick review on some of these lithium stocks to see if my previous post held the test of time...
LRS
I mentioned LRS could pull back to 20 support and it has, but will it hold ?
Indicators still look bearish, SP below 4, 8, 21 ema and above average volume is occurring so cant rule out 16.69 support getting hit now.....which would mean the previous bullish movement was just a fake out.
Sentiment: observe / partial sell
LTR
Sentiment : Observe / Sell
PLS
If you would like to take a punt that the low is in, fine, but install a tight stop loss at 341 ( purple line ) to protect capital if the bearish movement continues.
Sentiment: observe / minimal accumulation
CXO
With CXO on C&M, its really at the whim of markets where the SP goes, if 21c strong support doesnt hold, then 10c support comes to play. RSI 14 is not over sold, so there is a high possibility it could reach that low. Its a flip of the coin where this goes. For long term holders , just put it in the back draw, but if you are a trader, apply a tight SL .
Sentiment: Observe / hold
SYA
So long term holders of SYA, just put in bottom draw and wait for better times, traders, apply a tight SL.
Bearish lithium sentiment is trashing good stock across the board, my portfolio is deep in red too , yes i am a trader and i try to limit the damage, but primarily i am a investor who likes to have skin in the game to take advantage of FA rerate.......if spare coin is available, i am just trying to average down to take advantage of bargain basement prices with a view of the lithium sector turning bullish some time down the track, so if you are a holder, the worst decision you can make is selling up at the low, remember, this is a trading thread, different game.
And just a reminder....
Dow is multiple topped, with bearish divergence on the indicators, suggesting more volatile times to come.
Tread carefully.
I know the Li been quiet and not much to see, wondering what's your view on woolworth ?